SAVE FOODS ANNOUNCES NOTICE OF PATENT ALLOWANCE IN THE U.S. FOR ITS PROPRIETARY BLEND OF ACIDS BASED TECHNOLOGY TO PROTECT FRUITS AND VEGETABLES FROM DECAY
Save Foods has received a Notice of Allowance from the USPTO for a patent related to its food preservation technology, which utilizes a blend of food acids to prevent decay. This will boost the company’s intellectual property portfolio to ten granted patents, enhancing its competitive edge in the agri-food tech sector. The company is focused on reducing food waste and pesticide use, aiming for continued product innovation to drive revenue growth. With nine issued patents and additional pending applications, Save Foods is positioned for global expansion.
- Issuance of a Notice of Allowance for a patent enhances competitive advantage.
- Patent expands Save Foods' intellectual property portfolio to ten granted patents.
- Company aims to drive revenue growth through continued product innovation.
- None.
The patent will strengthen Save Foods’ competitive advantage and expand Save Foods’ protection of the process related to its core technology
Neve Yarak, Israel, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Save Foods, Inc. (Nasdaq: SVFD) (FSE:80W) (“Save Foods” or the “Company”), an agri-food tech company specializing in eco crop protection that helps to reduce food waste and ensure food safety while reducing the use of pesticides, announced today that the United States Patent and Trademark Office (“USPTO”) has provided the Company a Notice of Allowance for its patent application that relates to a method of protecting food from decay by applying Save Foods blend of food acids.
A Notice of Allowance is issued after the USPTO makes the determination that a patent should be granted from an application. The patent is expected to be issued in the coming months and will increase the Company’s IP portfolio to ten granted patents.
Dr. Neta Matis, Save Foods’ Head of Science and the COO of the Company’s Israeli subsidiary said: “This patent not only adds to our intellectual property portfolio covering our novel solutions, but it also strengthens our competitive advantage, that will lead to new commercial opportunities.
“We have additional patents pending as part of our IP protection strategy and we will continue our product innovation efforts to further enhance our market position and drive revenue growth.
“I am immensely proud to make this announcement. This patent is an attestation that our technology is indeed innovative and unique, and will help us to play a significant role in food waste and pesticides reduction.”
As of today, Save Foods owns nine issued patents, one allowed and has six pending patent applications, four of which may be submitted worldwide. Expiration dates of our patents, and any patents which may be granted under our pending patent applications, are from 2031 through 2041. Our patent family includes patents granted in Israel, the United States and Europe.
We are committed to expanding the use of our innovative technology worldwide and continuing our groundbreaking research into improving the quality of the produce that millions of people consume every day.
About Save Foods
Save Foods (Nasdaq: SVFD) (FSE:80W) is an innovative, dynamic company addressing two of the most significant challenges in the agri-food tech industry: food waste and loss and food safety. We are dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with our customers, we develop new solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Our initial applications are in post-harvest treatments in fruit and vegetable packinghouses processing produce including citrus, avocado, pears, apples and mangos.
For more information visit our website: https://savefoods.co/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the benefits of the allowed patent and the potential of its products, and that it will continue product innovation efforts to further enhance market position and drive revenue growth. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those discussed under the heading “Risk Factors” in Save Foods’ Annual Report on Form 10-K filed with the SEC on March 31, 2022, Form 10-Q filed with the SEC on May 16, 2022 and August 15, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Media Contact:
US Investor Relations:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
SVFD@redchip.com
German Investor Relations:
Dr Eva Reuter
e.reuter@dr-reuter.eu
FAQ
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